FG Endorses N5000 Note! God Help Nigerians!

Well after all the uproars and protest that followed the announcement of the new 5,000 naira note, It seems that for certain Nigerians once again would go unheard as our leaders not only ignore the people but go ahead to do whatever it is that satisfies their very own interest.

The federal government on Tuesday September 4, 2012  formally endorsed the introduction of the 5,000 naira note despite the widespread criticism and protests that greeted its introduction.


“Under the new structures, the existing denomination of N50, N100, and N200, N500 and N1000 will be redesigned with added new security features, the lower notes of N5, N10 and N20 will be converted to coins,” the CBN Governor, Sanusi Lamido said when he announced the introduction.


So yes we'll have to start dealing with coins dangling in our pockets so get yourself ready, because its obvious some people are still very fascinated with the idea of coins in the Nigeria, even though its so obvious that as a country the Nigerian system doesn't support coin.

After the weekly sitting of the Economic Managament Team chaired by President Goodluck Jonathan, some of the members of the team said that the move was in the right direction and remains the prerogative of the CBN.

At the meeting, Sanusi Lamido gave a detailed explanation of the programme.

This endorsement comes on the same day some people took to the streets under the #Occupy CBN Movement. With the Federal Government’s endorsement, does this silence the anti-N5000 protesters? Should Nigerians fold their arms and accept it or find other means of expressing their objections?


News Source: Vanguard